JAMES REAL ESTATE SERVICES, INC.
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The following are median rental rates (NNN) for industrial warehouses and office/showroom
properties in the Denver metro area, as provided by the Frederick Ross Company:
R&D/FLEX MEDIAN RENTAL RATES (NNN) 2000
Single-Tenant Buildings
Multi-Tenant Buildings
Sector
Low
High
Median
Low
High
Median
Central
$4.75
$7.00
$5.25 $4.25 $7.00 $5.75
East
NA
NA
NA
4.75
8.00
6.50
Northeast NA NA NA 5.50 8.00 6.50
Northwest
8.00 13.00 9.25 7.50 13.50 9.25
Southeast 8.00 13.00 9.00 8.00 13.50 9.50
Southwest
7.00 12.50 8.50 7.00 12.50 8.50
West
7.00 12.00 8.25 7.50 12.00 8.75
Source: Frederick Ross Company
INDUSTRIAL WAREHOUSE MEDIAN RENTAL RATES (NNN) 2000
Single-Tenant Buildings
Multi-Tenant Buildings
Sector Low
High
Median
Low
High
Median
Central $2.75 $6.25 $4.00 $3.75 $6.25 $4.50
East
3.00 6.00 3.75 3.00 6.50 3.95
Northeast 3.00 6.00 4.50 3.25 6.50 4.50
Northwest
4.50 6.00 4.50 4.50 7.00 5.00
Southeast 6.00 8.00 6.50 6.00 9.00 7.50
Southwest
4.50 7.00 5.00 4.50 7.50 5.50
West 4.50
7.50
5.00 4.50 8.00 6.00
Source: Frederick Ross Company
The National Real Estate Index (NREI) provides the following data:
NREI INDUSTRIAL DATA
Average Sale Price/SF
Average Rent/SF (NNN)
Average Cap Rate
Time Period
Denver
Western
Region
Denver
Western
Region
Denver
Western
Region
2
nd
Q 2000
$43.86
$43.12
$4.78
$5.43
8.5%
8.9%
1
st
Q 2000
$41.27
$42.18
$4.67
$5.35
8.6%
9.0%
1
st
-4
th
Q 1999
$39.93
$41.77
$4.69
$5.27
8.4%
8.8%
1
st
-4
th
Q 1998
35.87
40.27*
4.61
5.14*
8.7%
8.9%*
1
st
-4
th
Q 1997
30.34
37.39
4.38
5.02
9.1%
8.9%
1
st
-4
th
Q 1996
28.92
35.83
4.35
4.91
9.4%
9.0%
1
st
-4
th
Q 1995
27.99
35.29
4.08
4.71
9.4%
9.0%
1
st
-4
th
Q 1994
27.17
34.47
3.71
4.55
9.5%
9.2%
1
st
-4
th
Q 1993
26.48
33.75
3.32
4.31
9.1%
9.1%
1
st
-4
th
Q 1992
22.05
30.48
3.08
4.07
9.7%
9.5%
1
st
-4
th
Q 1991
24.88
32.44
2.93
3.97
9.3%
9.1%
1
st
-4
th
Q 1990
24.11
30.35
2.84
3.83
9.3%
9.2%
1
st
-4
th
Q 1989
24.15
29.09
2.78
3.75
9.3%
9.3%
Source: National Real Estate Index/James Real Estate Services, Inc.
